First American Title provider of title insurance and settlement services and subsidiary of First American Financial Corporation announced that its Clear2Go automated title decision engine is now available to title agents that underwrite with First American. Clear2Go is based on the state-of-the art technology behind First American Title’s internal automated title production that has processed more than 1 million residential refinance and home equity transactions, according to a press release [1] from the company.
In today’s frenetic housing market, title agents face significant capacity challenges and demand for more rapid turn-times on title commitments, combined with a continued focus on reducing cost, enhancing accuracy and improving customer service, notes First American, adding that, With Clear2Go, title agents can deliver same-day title commitments on eligible refinance or home equity transactions. The title commitments powered by Clear2Go are backed by First American’s underwriting rules and vetted against the industry’s largest and most comprehensive collection of property and title data resources, providing added peace of mind the title commitments meet First American’s quality standards. Unlike other solutions, Clear2Go was designed to meet applicable state-level title plant requirements by including title plant data obtained from First American’s unmatched title plant coverage.
“Clear2Go is another example of First American’s commitment to leadership in the digital transformation of the title and settlement industry,” said Evan M. Zanic, Agency Division President, First American Title. “Our title agent customers can benefit from proven technology that has powered our own title production, helping them reduce costs, enhance efficiency and improve their customers’ experience.”
Clear2Go automates the title search, document collection and title examination, allowing a title agent’s production staff to rapidly create a title commitment for an eligible residential refinance or home equity transaction, according to company literature. Several pilot tests with First American title agents have validated Clear2Go’s ability to accelerate the title production process while reducing costs and improving customer service. Clear2Go can also help title agents enhance the efficiency of their title production workflow and staff by segmenting title orders by complexity, allowing title agents to direct title orders to the appropriate staff members, they conclude.